The federal debt limit has already been exceeded. And in order to avoid breeching the statutory debt limit until Congress reconvened November 16th, the Treasury relied on cash taken from government trust funds and by suspending investment in those funds to operate our government.

Taking such action is absolutely irresponsible. In September, fellow conservative Blue Dog Coalition Member Charlie Stenholm of Texas proposed an amendment that would prohibit the Secretary of the Treasury from taking money from the Social Security trust fund, the Civil Service Retirement and Disability Trust Fund, the Military Retirement Trust Fund, the Government Securities Investment Fund, the Unemployment Trust Fund, railroad retirement trust funds, the DOD Education Benefit Trust Fund and the Black Lung Disability Trust fund to fund our government. This amendment was introduced in an effort to force Congress to take responsibility for the increase in the nation's debt by approving an increase in the debt limit before adjourning in October instead of waiting until we return to our nation's capital later this month. The House passed legislation with the amendment, but the Senate has not yet taken action.

We should have a full and open debate on whether to increase our national debt limit. The Republican leadership's tax plan funded tax cuts, not by cutting spending, but with borrowed money that has given us the largest budget deficit in our nation's history for a second year in a row. If this pattern of spending continues, our children and grandchildren will be left with a daunting financial burden.

Increasing the debt limit is now necessary, but Congress is obligated to re-examine our budget policies in an effort to reverse the current financial slump we find ourselves in. Increasing the debt should be an absolute last resort, not the solution. We must restore some common sense, fiscal discipline and accountability to the budget process just as we all have to do as families and small business owners, and I will continue to work with my colleagues in a bipartisan manner to stop deficit spending and move toward a balanced budget.

“Many news organizations are currently reporting a possible second case of mad cow disease within our borders.  While I understand the seriousness of these allegations, there is no reason for panic.  An inconclusive test result does not mean another case of the disease has been found, but is an example of the extremely sensitive tests that are used to detect any possibility of a positive in samples believed to be infected.  

“The USDA has stated conclusive results will be available in the next four to seven days and noted this particular animal did not enter the food chain. Numerous safety measures are in place to prevent mad cow from infecting our beef supply, and tests such as this prove the safety measures that are in place are working to detect the disease. I am confident in the safety of the U.S. beef supply and know that should these tests confirm our worst fears, the U.S. government and the USDA will work together accordingly to ensure the safety of the American people.”

“After years of planning, the Clinton Presidential Library opens today not only as a testament to President Clinton’s career in public service, but also proves that people across the nation recognize the talents and accomplishments made by a young man born in Hope and raised in Hot Springs that went on to be the leader of the free world, balanced the nation’s budget, garnered unprecedented economic security, and became one of the most influential Presidents in recent history.   

“Arkansas will benefit not only from the educational aspects of this Library, but also through the economic opportunities and increased tourism generated through the national and world attention placed on the state.  I congratulate President Clinton on this momentous occasion and wish him and his family the very best in all their future endeavors.”